DTZ has lost the contract to manage Safeway’s non-operational property in the north of England and Scotland.
The supermarket giant, which has a total property portfolio worth £6bn, has awarded the contract to Rapleys. That firm already manages Safeway’s operational properties as well as its non-operational properties in the South of England, the Midlands and Wales.
The whole portfolio is estimated to be worth more than £1m in fees a year.
DTZ confirmed that its contract to manage Safeway’s non-operational property in the North had been terminated at the end of last year but that it will continue to work for Safeway on acquisitions and disposals on a site-by-site basis.
Rapleys would not comment on the development, although last month it set up a new office in Edinburgh, which is thought to have been driven by the increased work from the Safeway account. The firm has also expanded its Bristol office and is thought to be looking to open offices in the North of England.
